Pellegrini has built his reputation in Europe over the last nine years at Villarreal, Real Madrid and - since 2010 - with los Boquerones, who have been forced to sell their main stars to help repay their debts, but are excelling so far in the Champions League in their debut season.

His agent told El Mercurio: "Manuel has a contract with Malaga. I think that in April and May we will be clear about what will happen with his future.

"Our first intention is to respect our commitment, but it also depends on what the conditions are. We had a formal offer from Roma, but we rejected it. It was less than 15 days ago, but we discarded it outright because we are in the middle of the season.

"Chelsea and other clubs have asked, but only through intermediaries, nothing official. Manuel would love to coach in the English Premier League, as he would in Germany, Italy and other important leagues. There's plenty of time to analyse what we will do next season."

Chelsea have also been linked to Spanish supremo Isco, who has recently signed a new contract at Malaga. A move for mentor and coach Pellegrini could potentially help to secure a move for the attacking midfielder.

Reports also suggest that Chelsea's owner, Roman Abramovich, is keen on bringing Jose Mourinho back to the club, as Benitez's chances of being offered the full-time job remain unlikely.